Numis Narrows Loss After Raising Funds, Cutting Costs

Numis Corp., a broker for smaller companies in the U.K., narrowed its full-year loss after raising more funds for clients and cutting operating costs.

The loss was 101,000 pounds ($157,370) for the 12 months ended Sept. 30, compared with a deficit of 8.6 million pounds a year earlier, London-based Numis said in a statement today.

“We are encouraged that in the first two months of the new financial year our commission and trading revenue is marginally ahead of last year’s run rate,” Chief Executive Officer Oliver Hemsley said in the statement.

Numis said it raised 1.3 billion pounds for its corporate clients compared with 787 million pounds a year earlier.

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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